gbpinr forecast for 17 to 21 june 2013

gbpinr daily chart technical analysis

gbpinr spot pair on last trading session closed at 90.31 with loss.on daily chart we see sharp run and hit fresh highs near 92.

on chart now pound rupee week average is 90.27 and immediate support on downside.while below that 87.36 is month average and 85.27 is 3 month average and last support on downside. on upside top of 91.5 remain major supply point.

on daily chart gbpinr cci is +121 and off the highs with formation of bearish divergence.while rsi is at 71 and off the highs.


gbpinr weekly chart technical analysis

gbpinr this week gained more like previous weeks and closed near new last 4 weeks pound rallied from 83 to 92 which is 9 rupee or 11% rally for this pair.this week pound rupee future made low at 88.66 while high was 91.8 total 3+ rupee move and closed near highs.

on weekly chart major averages are way down in 85 to 82 range as rally was sharp.on indicators on weekly chart shows cci is +266 and overbought zone while rsi is at 61 and still holding bullish pattern.

gbpinr forecast for 17 to 21 june 2013

for next week,pound rupee pair below 90.2 zone may start correcting and may show levels near 87.but above 90.2 zone as currently trading must hold long view for again new and fresh highs.

from medium to long term view pound looks strong bullish and with minor correction and consolidation may continue to gains.94 is first target and then 99 will be second.85 to 87 will be fresh entry zone on correction.

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Pramod Baviskar

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